Under the wave of mobile Internet, mass consumption demand is constantly upgrading. In recent years, enterprises and businesses continue to innovate technologies and business models: mobile payment, high-speed logistics, O2O services… These new models promote the integration of digital economy and real economy, and efficiency and convenience have gradually become a new basic social service.
Among them, the consumer influence of mobile payment is particularly important. To understand the current business ecosystem, we must first consider how mobile payment has changed the behavior and mentality of consumers.
New consumer demand drives traditional businesses to break three boundaries
Looking further into the era of inefficiency, think back to how people lived before wechat Pay and other mobile payment tools appeared. Food, accommodation, travel, shopping and entertainment, no matter which field, the public need to spend a lot of time on the tedious process, such as going out must have small change; There are endless lines at popular attractions and restaurants. For example, when it rains, you can only take a taxi and wait by the roadside, and so on.
The inefficiency of life is exhausting for consumers and also for businesses. Offline business and public services both rely on human resources, and many service links cannot be covered. In peak periods, insufficient capacity and insufficient services often occur. At the same time, the relationship between merchants and consumers is usually a single sale, consumer loyalty is not high, difficult to precipitation, merchants are difficult to achieve fine marketing.
However, with the popularization of mobile payment and the acceleration of the digitalization of the real economy, the mass lifestyle has been a different situation. China has become the global digital economy ranked second, in the process of digitalization, the masses from life into low efficiency efficiently the wisdom of life, there has been a huge shift of consumption behavior, new consumer demand driven traditional commercial break its own boundaries, must satisfy the unbounded, mobile, scene three characteristics to meet the demand of new life.
Mobile payment has become a new consumption trend. Wechat and other mobile payments have become important means of payment as the easy-to-use QR code payment form breaks the offline payment pattern. Statistics show that more than 70% of consumers in first-tier cities use mobile payment, and the proportion of mobile payment among the post-80s and post-90s is as high as 80%. The public has stepped into the consumption era of mobile payment and cash.
Online and offline integration of unbounded services. New retail has broken the binary opposition between online consumption and offline consumption. The public not only rely on the abundant online channels to learn about commodity information, but also pay attention to the consumption experience of offline physical stores. Consumption behavior from the original single choice to multiple and equal, boundless consumption has become the mainstream of consumption.
Multiple scenarios are coordinated to stimulate new consumption growth. The past mass consumption behavior is driven by brand, now due to the social to concentrate in online, consumer behavior presents a trend of scenarios, including social scene effect on consumption is most intuitive, the 2018 China consumer insight report shows that likes to share shopping experience consumers buoyed by shopping share of 44% the proportion of consumption behavior, impulsive consumption increased by 42%.
Mass consumption behavior to mobile, boundary-free, scene transformation, not only shows that the efficient new lifestyle is gradually taking shape, but also reflects that under the trend of consumption upgrading, traditional enterprises and businesses will usher in a major innovation. China’s commercial ecology has come to the crossroads of digital transformation, with broad development space ahead but also full of challenges.
Digital thrust of traditional business under the wave of mobile payment
In order to seize new opportunities, all walks of life are also actively engaged in digital transformation around new consumption behaviors. However, traditional businesses are faced with the difficulties of lack of talents and technology and lack of digital ability. There are two reasons: one is the high cost of labor, and the other is that the existing automation equipment is not effective. Although some traditional merchants have improved their operation efficiency to a certain extent through semi-self-service equipment, the equipment cost is high and not smart enough. In order to ensure the service quality, they still need to invest a lot of manpower and equipment cost, and the service efficiency has not been improved much.
At the same time, limited by the lack of technology, talent and other reasons, although traditional businesses have accumulated a large amount of transaction data, they have not been fully used, leading to many businesses can neither accurately grasp the segmentation needs of users, nor achieve fine operation, so they can not get the trust of users, loyalty is out of the question.
Fortunately, there are technical strength and the keen insight, go ahead in the digital transformation of Internet company is turning into digital assistant, will be open new technology, new equipment, new capabilities to help traditional businesses for commercial digital transformation, such as Meituan, hungry foreign sell service upgrade, such as the companies such as motion through the intelligent equipment upgrade for express service, Wechat Pay is a more typical example. In this wave of digital transformation, wechat payment can be said to be a more eye-catching service.
Recently, wechat Pay launched a massive AD campaign in Places like Hong Kong, Thailand and Japan, showcasing their top 8 digital capabilities. These capabilities have long gone beyond payment, covering retail, catering, livelihood and other commercial and public service scenarios. For example, wechat Pay is open to the combination of AI, big data and other cutting-edge technologies such as scan code purchase, insensitive payment and other functions, is helping businesses to achieve digital transformation, so that business development shows more self-service, data, intelligent characteristics. Below, we analyze the solutions that traditional industries can learn from the smart scenarios of catering, retail and public service.
First, “remote order + order without queue” help catering service
In the traditional retail scene, due to insufficient capacity or service in the peak of the restaurant, the membership service is relatively simple, so consumers can hardly get a good dining experience. However, in the smart catering scene, traditional businesses can realize self-service service at low cost with the help of wechat payment and small programs, which not only saves increasingly high labor costs, but also brings efficient service to consumers.
For example, consumers can remotely order their food through small programs in KFC and McDonald’s and then pick up their food at designated stores, saving the time of waiting in line after arriving at the stores. At the same time, merchants use the virtual membership card service of wechat to create an online membership system, which can not only make consumers timely understand the activities of each store, but also make consumers more convenient to grasp the information of member rights and interests. In addition, in the smart catering scene, stores also make the payment process simpler and more efficient with the help of intelligent devices such as face recognition.
Second, the self-service shopping, speed up the retail circulation
In the traditional retail scene, there is a serious queue at the cashier’s peak, and consumers complain. The operation of promotional activities is tedious, and it is difficult for consumers to timely understand the information of store activities; Membership card is not easy to carry and many other pain points. In the smart retail scenario, the service quality and efficiency will be greatly different after merchants combine the management system with wechat payment.
First of all, wechat Pay and mini programs can improve the efficiency of cashier. For example, wechat and Wal-Mart jointly launched the qr code purchase service, which enables consumers to self-checkout through mini programs, eliminating the need to wait in a long line to pay, making shopping more efficient and fast.
Secondly, with the help of wechat ecology and wechat payment ability, merchants can obtain point-to-point operation data, reduce the cost of acquiring customers, and use public accounts to carry out precise marketing. Consumers can also obtain value-added services in e-commerce and customer service through interaction with public accounts.
Finally, through wechat virtual membership card service, merchants can develop members at zero cost and deeply bind with consumers from online to offline. Under the integrated service, consumers can keep abreast of the latest promotional activities of merchants through wechat membership service and quickly obtain the information they need.
Living expenses, digitalization of public travel, technology to promote people’s livelihood
Traditional people’s livelihood service scenarios are the disaster areas with long queues and long hours. Both public payment and transportation are settled by cash, resulting in low efficiency and high congestion rate. However, the problem seems to be alleviated when smart devices such as mini programs and insensitive payment are applied to the service scenarios of people’s livelihood such as car owner services and public transportation.
For example, consumers can pay their bills and manage their payment data without having to wait in line for payment. For example, in the travel scenario, consumers can reduce the proportion of cash payment through the small program of ride code, which not only improves the management efficiency of the transportation system, but also improves the speed of passenger flow.
The efficiency and convenience brought by digitization is more directly reflected in the service of car owners. The application of intelligent equipment such as non-inductive payment is greatly improving the traffic efficiency. Data shows that the payment time of high-speed toll stations using non-inductive payment is reduced from the original 8 seconds to 2 seconds. In addition, in the parking lot of Shenzhen Bao ‘an International Airport, based on wechat owner service and license plate recognition system, it can shorten the time for vehicles to enter and exit the parking lot by 80%.
From wisdom retail, catering and service of the people’s livelihood three scenarios, WeChat pay ability with self-support, digital, intelligent digital transformation, three characteristics can not only help business better serve customers, meet the demand of consumption upgrade under new, can also help the service of the people’s livelihood, social infrastructure services going digital.
Mobile payment has gone beyond “payment” itself and has been upgraded to promote the full popularization of smart life.
The emergence of new forms of social commerce is accelerating
WeChat pay life, so far have covered the first-tier cities, when WeChat will pay wisdom retail, food and beverage experience accumulated in the scene such as applied to the industry, more help more traditional businesses realize the digital transformation, intelligent life will be from the cities to the second – and third-tier cities, and gradually spread throughout the country, it is the wisdom of life fair.
On the other hand, smart lifestyles make business and public services more people-oriented. On the one hand, children and the elderly, as well as small and micro entrepreneurs, who could not be covered in the PC and Internet era, can enjoy the convenience of life and low threshold of entrepreneurship opportunities through mobile Internet and mobile payment.
On the other hand, when traditional businesses complete digital transformation and online and offline services are deeply integrated, businesses can realize refined operation through integrated services and provide personalized services for thousands of consumers, so as to meet the segmentation needs of different consumers, and consumers will be more trusting and loyal to businesses.
In the process of digital development, The consumption behavior of Chinese consumers has been upgraded to mobile, unbounded and scenario-oriented, and the commercial form has also ushered in digital transformation under this new trend of consumption behavior. Empowered by digital assistants such as wechat Pay, more and more traditional businesses have completed digital transformation, and smart lifestyles are spreading from first-tier cities to other cities.
Efficiency drives quality, and quality brings benefit. When traditional businesses can deeply integrate online and offline services and optimize every service link, Chinese consumers will have more efficient and high-quality consumption experience in smart life in the future, and people will also have more trust.
Article/Liu Kuang public account, ID: Liukuang110